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. let's write a new book. by the way, those are now going to be called the obama tax cuts. i'm calling it first. the obama tax cuts. he's going to write a tax cut bill, send it up to the hill, and they're going to pass it. >> expires on january 2nd. >> do we make them permanent, jimmy? 98% of them will be made permanent? >> i hope not. that is not the job of the government. the government's job is to raise taxes and to lower taxes when our economy needs it. that's what the senate does. john breaux, former senator john breaux from louisiana sat on the floor during the 2001 tax bill and said our job is to raise taxes when they need to be raised and lower them when they need to be lowered. that's the senate and the house's job. >> but, one man's -- is another man's -- if you look at the laugher curve you don't know when to raise and when to lower at this point. >> president obama kept bush's taxes in for two years. >> i know. >> but suddenly, you know, democrats like you love the 98%, and you hate the 2%. it's very weird. >> tell him, joe. >> don't hate the 2%. i'm not a self-loathing hat
. >> right. do you macro look at the obama care taxes as being a headwind? >> sure. it's 3.8% on not marginal income tax rates. it's unearned income. but whether it's medical device tax, a question i was going to have for les is whether he sees any delays. do you see any delays in any of the implementations of these. obviously whether it's in minnesota with respect to the medical device tax, senators are talking about delaying implementation until they study this further. do you see that happening? >> seems unlikely. i mean, i know as an ex-minnesotan that they would love to see this tax go away. i'm not sure that that's in the cards. i think it's a fait accompli. it will take longer than people think leading to chaos. in 2014, states that don't expand to medicaid, it's going to leave people in the hole in 2014. i'm not sure how these people will afford insurance without the subsidies. that's 2014, we'll come back next year and worry about that. >> pharma tech has nothing to do with obama care. >> absolutely not. that's why it's done well, between drugs and interest rates. >> so it had nothin
for. payroll tax, that's $160 million. we have obama care taxes. we know those are going through. >> the payroll tax number going up again? >> payroll tax, i think they're not going to extend it. so that goes up -- >> sooner or later they have to go up. >> that's $160 billion -- >> don't we need that money? >> funding social security. so it's very likely that that tax cut will not be extended into the new year. so there's a chance you have a mild recession, even in real terms, in the first half of next year. the good news, i think, my big prediction, i've had for awhile for whatever it's worth, i think we're developing a new nifty 50 in this country of very, very strong companies that are almost bond proxies. and i know a lot of people think they're expensive, but there's no other alternative. there's no other place to go. >> is the market priced appropriately for your estimation -- >> no, i don't think. >> for the first half of 2013. >> if you look at bottom of analyst estimates for 2013 they're still using 113, 114 for operating earnings, an 11% increase. that's with profit mar
's your ask of obama. he's told you what taxes he wants to raise. >> i've got a whole list of them. i mean, certainly starting with chain cpi, but the age, the copay, means testing. >> he's agreed to that. >> betting on competitive situation in between medicare manage and deeper service without any cap i mean it adds up to about a trillion dollars. and when you have a situation where americans are paying one-third of the cost of medicare, i don't think people realize that, but literally people are paying one-third of the cost of medicare, we have 20 million more americans coming on medicare over the next decade, i mean it's a time bomb. >> i agree with you it's a time bomb. but remember that the -- the standing document for republican boldness is the ryan budget. you get credit for that. he did not have ten-year savings on medicare and social security. >> and i do. i think we obviously need to be much bolder than the budget you're talking about. because otherwise as you mentioned, if you're going to protect everybody that's 55 and older, there are no savings over the next ten years. >> tha
we get past this impasse? i think president obama's made some concessions already on the revenue number from $1.6 trillion to $1.2 trillion. on the threshold for taxes from $250,000 to $400,000. and indicated some flexibility on corporate taxes and other issues and c.o.l.a.s for medicare. so i think that there's some room here if we can just get the gop to make the movement on their side. they can't even get boehner to get agreement with plan "b" over there. i don't know what's going to happen. >> you wouldn't have done anything with plan "b." susan i was just talking to john kanas about the republicans just -- they can't win for losing here, they're like boxed into a corner. they're going to get blamed for something that maybe the other side was willing to do all along, and the republicans are going to be the one getting blamed and i don't think people are even going to realize that they're being had. >> they certainly fumbled the ball. and the fact is is that they did have an opportunity to really look like they were going to become the party of yes. and they at some point they
Search Results 0 to 4 of about 5